January 15, 2013 / 9:30 PM / 5 years ago

Costa Rica to propose capital controls to combat hot money flows

SAN JOSE, Jan 15 (Reuters) - Costa Rica will introduce capital control proposals to Congress this week in a bid to tackle a recent surge in inflows, President Laura Chinchilla said on Tuesday.

One proposal will require savings made by large state-run institutions to be made exclusively in public banks, according to an official statement.

Vice President Luis Liberman told a news conference another proposal would raise taxes on the returns generated by government bonds.

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